Refund claim dismissed as time-barred under s.142(5); non-obstante clause read restrictively, merits not decided, self-assessment payments not mere de...
Assessee's project-completion revenue recognition upheld; income addition deleted under Guidance Note/AS-9 and percentage-completion rules as complian...
The HC quashed and set aside the impugned order of Respondent No.1, holding that there was no statutory requirement to file Form No.9A for A.Y. 2015-16 as the mandatory filing obligation was introduced by the Finance Act, 2015 w.e.f. 1.4.2016. The Court found the Applicant had validly exercised the option under clause (2) of the Explanation to s.11(1) within time by disclosures in Form No.10B and its timely return of income, and that denying relief would cause undue hardship and a disproportionate demand. The HC directed the Respondents to reopen and process the Applicant's return in the pending de novo assessment proceedings in accordance with law consistent with this holding.
The HC quashed and set aside the impugned order of Respondent No.1, holding that there was no statutory requirement to file Form No.9A for A.Y. 2015-16 as the mandatory filing obligation was introduced by the Finance Act, 2015 w.e.f. 1.4.2016. The Court found the Applicant had validly exercised the option under clause (2) of the Explanation to s.11(1) within time by disclosures in Form No.10B and its timely return of income, and that denying relief would cause undue hardship and a disproportionate demand. The HC directed the Respondents to reopen and process the Applicant's return in the pending de novo assessment proceedings in accordance with law consistent with this holding.
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